Common use of EFFECT OF STATUTORY CHANGES Clause in Contracts

EFFECT OF STATUTORY CHANGES. Notwithstanding any other provision in this Agreement, but subject to the limitations contained in Section 4.11, in the event that, by virtue of statutory changes to the Applicable School Finance Law, administrative interpretations by the Comptroller, Commissioner of Education, or the Texas Education Agency, or for any other reason attributable to statutory change, the District will receive less Maintenance and Operations Revenue, or, if applicable, will be required to increase its payment of funds to the State, because of its participation in this Agreement, the Applicant shall make payments to the District, up to the limit set forth in Section 4.11, that are necessary to offset any negative impact on the District as a result of its participation in this Agreement. Such calculation shall take into account any adjustments to the Revenue Protection Amount calculated for the current fiscal year that should be made in order to reflect the actual impact on the District. In the event that it is determined that Applicant owes any amounts under this Section 4.10, the Consultant appointed pursuant to Section

EFFECT OF STATUTORY CHANGES. Notwithstanding any other provision in this Agreement, but subject to the limitations contained in Section 4.11Sections 4.2.B and 7.1, in the event that, by virtue of statutory changes to the Applicable School Finance Law, administrative interpretations by the Comptroller, the Commissioner of Education, or the Texas Education Agency, or for any other reason attributable to statutory change, the District will receive less Maintenance and Operations Revenue, or, if applicable, will be required to increase its payment of funds to the State, or to other governmental entities including the Appraisal District, because of its participation in this Agreement, the Applicant shall make payments to the District, up to the limit limits set forth in Section 4.11Sections 4.2.B and 7.1, that are necessary to offset any negative impact on the District as a result of its participation in this Agreement. Such calculation shall take into account any adjustments to the Revenue Protection Amount amount calculated for the current fiscal year that should be made in order to reflect the actual impact on the District. In Both the event District and the Applicant anticipate and intend that it is determined that Applicant owes any amounts under the provisions of Section 4.2 through 4.5 above will fulfill the requirements of this Section 4.10, the Consultant appointed pursuant to Section4.9.‌‌

EFFECT OF STATUTORY CHANGES. Notwithstanding any other provision in this Agreement, but subject to the limitations contained in Section 4.11Sections 4.2.B and 7.1, in the event that, by virtue of statutory changes to the Applicable School Finance Law, administrative interpretations by the Comptroller, the Commissioner of Education, or the Texas Education Agency, or for any other reason attributable to statutory change, the District will receive less Maintenance and Operations Revenue, or, if applicable, will be required to increase its payment of funds to the State, or to other governmental entities including the Appraisal District, because of its participation in this Agreement, the Applicant shall make payments to the District, up to the limit limits set forth in Section 4.11Sections 4.2.B and 7.1, that are necessary to offset any negative impact on the District as a result of its participation in this Agreement. Such calculation shall take into account any adjustments to the Revenue Protection Amount amount calculated for the current fiscal year that should be made in order to reflect the actual impact on the District. In Both the event District and the Applicant anticipate and intend that it is determined that Applicant owes any amounts under the provisions of Section 4.2 through 4.5 above will fulfill the requirements of this Section 4.10, the Consultant appointed pursuant to Section4.9.

EFFECT OF STATUTORY CHANGES. Notwithstanding any other provision in this Agreement, but subject to the limitations contained in Section 4.117.1, in the event that, that by virtue of statutory changes to the Applicable School Finance Law, administrative interpretations by the Comptroller, Commissioner of Education, or the Texas Education Agency, or for any other reason attributable to statutory change, the District will receive less Maintenance and Operations M&O Revenue, or, if applicable, will be required to increase its payment of funds to the State, or to other governmental entities including the Appraisal District, because of its participation in this Agreement, the Applicant shall make payments to the District, up to the limit set forth in Section 4.11, that are necessary to offset any negative impact on the District as a result of its participation in this Agreement. Such calculation shall take into account any adjustments to the Revenue Protection Amount amount calculated for the current fiscal year that should be made in order to reflect the actual impact on the District. In The District shall use reasonable efforts to mitigate the event that it is determined that Applicant owes economic effects of any amounts under law changes described in this Section 4.10, and if Applicant disagrees with the Consultant appointed calculation of adverse impact described in this Section it shall have the right to appeal such calculations pursuant to SectionSection 9.5 of this Agreement.